9:00 AM - 5:00 PM

Our Hours Mon. - Fri.

310.774.1437

Call Us For Free Consultation

Facebook

Twitter

Crypto Developer Ripple Seeks Trim Of Investors’ Fraud Suit

Tiomkin Law Offices of Elliott Tiomkin > Legal News  > Crypto Developer Ripple Seeks Trim Of Investors’ Fraud Suit

Crypto Developer Ripple Seeks Trim Of Investors’ Fraud Suit

Law360 (June 9, 2020, 6:04 PM EDT) — Digital currency developer Ripple Labs Inc. on Monday sought to pare down the allegations it faces in a proposed securities class action in California federal court, claiming its investors failed to show how the company intentionally misled anyone about its offerings.

In its June 8 motion for partial dismissal with prejudice, the company, along with the affiliated digital asset company XRP II LLC and Ripple CEO Bradley Garlinghouse, sought to end three of the shareholder allegations it faces concerning fraud, false advertising and unfair competition in violation of California state laws.

In the motion, the company contended that earlier versions of…

Call Now ButtonCall For Free Consultation